10101 Maddox Ln #201 · Bonita Springs, FL 34135

$279,900

3 bd · 2.0 ba · 1,279 sqft · Condo public records · 25 Days on market

Built 1989 $521/mo HOA · 16% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +6.3/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

All financing offers accepted will be on condition of Buyers obtaining a Pre-Qualification letter from a local Bank of America. FREE APPRAISAL AND CREDIT REPORT IF FINANCED THRU BANK OF AMERICA. PLEASE SUBMIT ENTIRE OFFER PACKET AT END OF MLS. New carpet will be installed in hallway, bedrooms and closets. Great opportunity to own this end unit. Community is close to shopping, beaches and dining.

Key facts

• Lake views
• Oversized lanai
• New ac system

Tags

• PRIVATE ENTRANCE
• OVERSIZED LANAI
• LAKE VIEWS
• COMMUNITY POOL VIEWS
• IMPACT WINDOWS
• NEW AC SYSTEM

Property features AI

Finance

• Financial info: Pets allowed (call/conditional)
• HOA & community: Community of 60 units; Quarterly association fee; Association covers management, insurance, irrigation water, legal/accounting, grounds maintenance, pest control, reserves, road maintenance and trash; Community amenities include pool, cabana, shuffleboard court, storage, sidewalks, vehicle wash area and management; Non-gated community with street lights

Exterior

• Parking: Assigned covered parking; Detached carport (1 space)
• Security: Fire sprinkler system; Smoke detector(s); Security/High Impact Doors
• Utilities: Public water; Public sewer; Cable available; High-speed internet available
• Home design: Single-story; Entry level: 2; Resale property; North-facing
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Lanai / screened porch; Porch; Storage; Water feature; Security / high impact doors; Fire sprinkler system; Smoke detectors

Interior

• Kitchen: Dishwasher; Disposal; Icemaker; Microwave; Range; Refrigerator (with ice maker)
• Bedrooms: Bedroom on main level
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Impact glass windows; Window coverings and treatments; Breakfast bar; Family/Dining area; Living/Dining room; Pantry; Separate shower (shower only option); Cable TV; Walk-in closet(s); Furnished
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $280k.

Deal economics

• At list price, monthly cash flow is $357 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $276k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 1.7% in Bonita Springs — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: schools C-, cost of living C-, health & safety D.
• Lee (suburban): math 47% / reading 50% proficiency, ranked #42 of 73 in FL (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.6%/yr); 835 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 42% of the median local income ($91k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $56k; list at $280k implies a 402% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $275,701 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.46%
• DSCR: 1.24
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.59×
• Total profit: $-31,762
• Equity at exit: $41,734

10-year hold

• IRR: -8.0%
• Equity multiple: 0.57×
• Total profit: $-33,637
• Equity at exit: $24,201

Cash invested: $78,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34135

• Rents YoY: -0.6%
• Active inventory: 835
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $3,176 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$47 /mo · $565/yr
• Insurance: −$117
• HOA: −$521
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $357

Break-even live

Break-even rent $2,725

Max offer price $279,900

Occupancy floor 84%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10041 Maddox Ln #203 Bonita Springs, FL	3.0	2.0	1083	$5,000	$4.62	23d	1	0.03mi
10041 Maddox Ln Bonita Springs, FL	2.0	2.0	1213	$5,000	$4.12	23d	1	0.03mi
10020 Maddox Ln #213 Bonita Springs, FL	2.0	2.0	1224	$2,350	$1.92	21d	1	0.11mi
10010 Maddox Ln #318 Bonita Springs, FL	2.0	2.0	1224	$1,550	$1.27	23d	1	0.11mi
10030 Maddox Ln #206 Bonita Springs, FL	3.0	2.0	1327	$2,150	$1.62	21d	1	0.13mi
10000 Maddox Ln #125 Bonita Springs, FL	2.0	2.0	1129	$4,000	$3.54	23d	1	0.15mi
25356 Pinson Dr Bonita Springs, FL	3.0	2.0	1454	$3,800	$2.61	23d	1	0.47mi
25356 Pinson Dr Bonita Springs, FL	3.0	2.0	1454	$3,800	$2.61	3d	1	0.47mi
25480 Cockleshell Dr #1005 Bonita Springs, FL	2.0	2.5	1119	$4,600	$4.11	23d	1	0.56mi
25480 Cockleshell Dr #1005 Bonita Springs, FL	2.0	2.5	1129	$4,500	$3.99	21d	1	0.56mi
9371 Lake Abby Ln Bonita Springs, FL	3.0	2.0	1796	$2,850	$1.59	23d	1	0.61mi
9510 Village View Blvd Bonita Springs, FL	3.0	2.0	1587	$3,700	$2.33	23d	1	0.68mi
25727 Lake Amelia Way #105 Bonita Springs, FL	2.0	2.0	1230	$2,200	$1.79	23d	1	0.71mi
25161 Killdeer Dr Bonita Springs, FL	3.0	2.0	1777	$3,200	$1.80	14d	1	0.71mi
25735 Lake Amelia Way #105 Bonita Springs, FL	2.0	2.0	1230	$1,500	$1.22	23d	1	0.74mi
9304 Lake Abby Ln Bonita Springs, FL	3.0	2.0	1631	$3,700	$2.27	3d	1	0.77mi
10818 Alvara Way Bonita Springs, FL	2.0	2.5	1628	$2,500	$1.54	23d	1	0.83mi
25806 Cockleshell Dr #314 Bonita Springs, FL	2.0	2.0	975	$1,800	$1.85	23d	1	0.86mi
10850 Alvara Point Dr Bonita Springs, FL	2.0	2.5	1628	$4,000	$2.46	23d	1	0.93mi
25925 Pebblecreek Dr Bonita Springs, FL	2.0	2.0	1498	$3,400	$2.27	21d	1	1.02mi
10328 Windley Key Ter Bonita Springs, FL	3.0	2.0	1400	$2,600	$1.86	14d	1	1.05mi
25817 Pebblecreek Dr Bonita Springs, FL	4.0	2.0	1718	$3,500	$2.04	2d	1	1.06mi
8930 Colonnades Ct E #625 Bonita Springs, FL	2.0	2.0	1013	$3,000	$2.96	10d	1	1.08mi
8930 Colonnades Ct E Bonita Springs, FL	2.0	2.0	1013	$2,325	$2.30	16d	2	1.08mi
8940 Colonnades Ct E Bonita Springs, FL	2.0	2.0	1013	$2,575	$2.54	10d	3	1.08mi
8940 Colonnades Ct E Bonita Springs, FL	2.0	2.0	1013	$2,675	$2.64	23d	2	1.08mi
8870 Colonnades Ct W #337 Bonita Springs, FL	2.0	2.0	997	$3,100	$3.11	3d	1	1.17mi
23821 Marbella Bay Rd #102 Estero, FL	2.0	2.0	1279	$5,750	$4.50	23d	1	1.18mi
23821 Marbella Bay Rd Ofc Season Bonita Springs, FL	2.0	2.0	1279	$2,500	$1.95	23d	1	1.18mi
8861 Colonnades Ct W #216 Bonita Springs, FL	3.0	2.0	1207	$2,200	$1.82	23d	1	1.21mi
23810 Marbella Bay Rd #102 Estero, FL	2.0	2.0	1103	$5,000	$4.53	23d	1	1.22mi
23810 Costa del Sol Rd #203 Estero, FL	2.0	2.0	1276	$2,400	$1.88	16d	1	1.24mi
10911 Santa Margherita Rd #102 Estero, FL	2.0	2.0	1279	$2,800	$2.19	23d	1	1.29mi
23785 Clear Spring Ct #2305 Estero, FL	3.0	2.0	1811	$7,500	$4.14	23d	1	1.32mi
10910 Santa Margherita Rd #102 Estero, FL	3.0	2.0	1279	$2,200	$1.72	23d	1	1.33mi
9030 Spring Run Blvd #508 Estero, FL	2.0	2.0	1333	$6,500	$4.88	23d	1	1.34mi
26240 Bonita Fairways Blvd Bonita Springs, FL	3.0	2.5	1704	$2,999	$1.76	21d	1	1.38mi
23601 Sandycreek Ter #903 Estero, FL	2.0	2.0	1246	$6,000	$4.82	23d	1	1.41mi
3412 Pointe Creek Ct #102 Bonita Springs, FL	3.0	2.0	1622	$6,250	$3.85	23d	1	1.46mi
26175 Bonita Fairways Blvd Bonita Springs, FL	3.0	2.0	1308	$3,000	$2.29	16d	1	1.46mi

HOA detail condo

• Monthly dues: $521 · $6,252/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-04-28
   status Pending
2. 2026-04-21
   price $279,900
3. 2026-04-03
   listed $284,900 Active
4. 2011-02-11
   soldstatus $55,800 398-char remark

   Show marketing remark (398 chars)

   All financing offers accepted will be on condition of Buyers obtaining a Pre-Qualification letter from a local Bank of America. FREE APPRAISAL AND CREDIT REPORT IF FINANCED THRU BANK OF AMERICA. PLEASE SUBMIT ENTIRE OFFER PACKET AT END OF MLS. New carpet will be installed in hallway, bedrooms and closets. Great opportunity to own this end unit. Community is close to shopping, beaches and dining.

5. 2010-10-25
   listed $55,800 398-char remark

   Show marketing remark (398 chars)

   All financing offers accepted will be on condition of Buyers obtaining a Pre-Qualification letter from a local Bank of America. FREE APPRAISAL AND CREDIT REPORT IF FINANCED THRU BANK OF AMERICA. PLEASE SUBMIT ENTIRE OFFER PACKET AT END OF MLS. New carpet will be installed in hallway, bedrooms and closets. Great opportunity to own this end unit. Community is close to shopping, beaches and dining.

6. 2010-03-08
   listed $65,000
7. 2005-07-28
   soldstatus $165,000
8. 2003-12-12
   soldstatus $4,800,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $565 · $47/mo
• Projected year-2 tax: $2,323 · $194/mo
• Expected delta: +$1,758/yr (+$147/mo · 311.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,115
• − Mortgage interest: −$15,679
• − Property taxes: −$565
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,049
• − Management: −$3,049
• − HOA: −$6,252
• − Depreciation: −$8,143
• Taxable loss: −$21
• Est. tax savings @ 24.0%: +$5
• After-tax cash flow: $4,286/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lee
• NCES district ID: 1201080
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $49,518
• Composite: 41.49/100
• National rank: #3458
• State rank: #42 of 73 in FL

Livability — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

Amenities F Commute F Cost of living C- Crime A+ Employment A Housing A+ Health & safety D User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonita Springs, FL
• County: Lee County · 788,662 people
• City population: 64,727
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 48,252
• Household income: $91,380
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 976.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 871,946 people
• By 2030: 955,468 · +9.6%
• By 2040: 1,113,587 · +27.7%
• By 2050: 1,256,891 · +44.1%
• By 2075: 1,560,270 · +78.9%
• By 2100: 1,726,848 · +98.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 26% Two or more races 13% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 4% Cuban 3%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 22% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 21% French/Haitian/Cajun 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+28.4) · D 35.5% · R 63.9%
• 2008→2024 swing: -18.0pp toward R · 2008: -10.4pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+19.2 2016: R+20.4 2012: R+16.6 2008: R+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -188.86%
• Current HPI: 243.4153
• Rent YoY: ▼ -0.61%
• Metro: Cape Coral-Fort Myers, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-94.2% since first listed

8 events — show timeline

• 2026-04-28 Pending — FORTMLS
• 2026-04-21 Price Changed $279,900 FORTMLS
• 2026-04-03 Listed $284,900 FORTMLS
• 2011-02-11 Sold (MLS) $55,800 NAPLESMLS
• 2010-10-25 Listed $55,800 NAPLESMLS
• 2010-03-08 Listed $65,000 NAPLESMLS
• 2005-07-28 Sold (Public Records) $165,000 Public Records
• 2003-12-12 Sold (Public Records) $4,800,000 Public Records

Property tax history

-0.8%/yr

Latest (2025): $565 · +4.7% YoY. Source: county tax records.